NJ First-Time
Homebuyer

Loan Program


American United is proud to be selected as one of the approved lenders to offer the New Jersey State First-Time home buyer loan.

Designed to help increase homeownership throughout New Jersey, the NJ State First-Time buyer program offers the following features;

  • Below market interest rate (depending on bond issuance and market conditions)
  • Down payment assistance using the Smart Start Initiative
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Other loans you might be interested in:

To take advantage of the NJ First-Time Home buyer loan through American United, applicants must;

  • Be First-Time Home Buyers ( not owned a home in the past 3 years )
  • Have a minimum credit score of 680
  • Purchase a Single family home
  • Have a down payment of at least 5% of their own funds ( unless using the Smart Start option )
  • Meet the purchase price and income limits as set by the NJHMFA


Purchase Price & Income Limits Statewide Area (47k PDF)

Purchase Price & Income Limits Urban Target Area (57k PDF)

Smart Start Initiative: Down Payment Assistance

Overcome the down payment hurdle - By combining the New Jersey State First-Time Home Buyer loan with the Smart Start Initiative, qualified first-time buyers can obtain a “forgivable” -0- interest loan up to 4% of the purchase price to use toward the down payment and/or closing costs.

To find out more about the NJ State First-Time Buyer loan and Smart Start Down Payment Assistance Program, call or email a local American United Lending professional today.

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